Bitcoin, Ethereum, Dogecoin Continue Higher: '$80K By End Of June' Would Not Be A Surprise Says Trader...If This Support Holds

Cryptocurrency markets are trading in the green on Wednesday, led by the second-highest day of inflows into spot Bitcoin ETFs since their launch..

Prices as of 4 p.m. ET:

Notable Statistics:

• Coinglass data shows Bitcoin short liquidations ($26.1 million) peaking at the highest level since May 21. Open interest is currently at its highest since early April.
• IntoTheBlock shows addresses holding more than 1,000 BTC collectively owning more than 40% of the total Bitcoin supply, a trend that has been increasing since mid-March.
• At $73,000, $2.1 billion in shorts may be in danger of liquidation.
• CryptoQuant data highlights accelerating Bitcoin and Ethereum demand after the March to May slowdown, with permanent wolders and whale’s bitcoin balances growing at increasing speed.

Notable Developments:

• BlackRock’s Bitcoin ETF Up 50% Since Launch: Indicators Point To Continued BTC Bull Run
• Coinbase Launches Smart Wallets To Simplify Crypto Onboarding
• Bitcoin’s Current Cycle Is Outperforming According To These 3 Metrics, Says Analyst
• Bitcoin Could Go To $500K By October 2025, Says Silicon Valley VC

Top Gainers:

Macro economist Seth believes that Bitcoin's daily impulse just started and volatility is at its lowest since August 2023. He added, "Bitcoin RSI at 63. Sure, we can have a small pullback. But the Daily Impulse up just begun."

Crypto analyst Ali Martinez points to the "most crucial support level at $68,500." Bitcoin will go “up only” if it holds.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Bitcoin All-Time Highs A ‘Stone’s Throw Away’ If It Starts Closing Above This Price, Predicts Trader

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